Steve Baldwin

REALTOR®

Working with you EVERY Step of the Way! 

Cell: 604.317.7810 |

Categories
RSS

News Release

FOR IMMEDIATE RELEASE

Summer housing market trends toward balance after

An Active Spring Season

VANCOUVER, B.C. – July 5, 2011

 
Home sellers outpaced buyers on Greater Vancouver’s Multiple Listings

Service® (MLS®) in June, drawing the market back toward balance this summer.

 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 3,262 in June, a 9.8 per cent increase compared to the 2,972 sales in June 2010 and a 3.4 per cent decline compared to the 3,377 sales in May 2011. New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,793 in June. This represents a 4.5 per cent increase compared to June 2010 when 5,544 properties were listed for sale on the MLS® and a 2.3 per cent decline compared to the 5,931 new listings reported in May 2011.
Last month’s new listing total was 9.8 per cent higher than the 10-year average for June, while residential sales were 7.3 per cent below the ten-year average for sales in June.

“With sales below the 10-year average and home listings above what’s typical for the month, activity in June brought closer alignment between supply and demand in our marketplace,” Rosario Setticasi, REBGV president said. “With a sales-to-active-listings ratio of nearly 22 per cent, it looks like we’re in the upper end of a balanced market.”

At 15,106, the total number of residential property listings on the MLS® increased 3.1 per cent in June compared to last month and declined 14 per cent from this time last year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.7 per cent to $630,921 in June 2011 from $580,237 in June 2010.

“The largest price increases continue to be in the detached home market on the westside of Vancouver and in West Vancouver,” Setticasi said. “Since the end of May, the benchmark price of a detached home rose more than $147,000 on the westside of Vancouver and over $80,000 in West Vancouver. Detached home prices in Richmond, however, levelled off slightly, declining $25,000 in June.”

Sales of detached properties on the MLS® in June 2011 reached 1,471, an increase of 29.1 per cent from the 1,139 detached sales recorded in June 2010, and an 11.8 per cent decrease from the 1,667 units sold in June 2009.

The benchmark price for detached properties increased 13.4 per cent from June 2010 to $901,680.

Sales of apartment properties reached 1,266 in June 2011, a 0.6 per cent increase compared to the 1,258 sales in June 2010, and a decrease of 29.3 per cent compared to the 1,790 sales in June 2009. The benchmark price of an apartment property increased 3.5 per cent from June 2010 to $405,200.

Attached property sales in June 2011 totalled 525, an 8.7 per cent decrease compared to the 575 sales in June 2010, and a 34.5 per cent decrease from the 802 attached properties sold in June 2009. The benchmark price of an attached unit increased 6 per cent between June 2010 and 2011 to $522,424.

 
The real estate industry is a key economic driver in British Columbia. In 2010, 30,595 homes changed ownership in the Board's area, generating $1.28 billion in spin-off activity and 8,567 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $21 billion in 2010. The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.
Read

Property Photo: 604 988 RICHARDS ST in Vancouver
New property listed at 604 988 RICHARDS ST in Vancouver.
NY inspired boutique building with 8 floors and only 52 residences. Urban chic offering a functional, well laid out 2 bedroom, 2 full bath, southwest facing corner unit with 9' ceilings and loads of storage and closet space. Theentertainer's kitchen features granite counters, high end Bosch appliances, gas cook top, deep stainless sink tub with top of the line fixtures. This home is well planned with a versatile living, dining and kitchen that maximizes living space. Large covered balcony, great for BBQ's.Smart lighting control, wireless internet, state of the art A/V system is included. Secure parking and storage. Welcome to your downtown dream!
Read
Categories:   Ambleside, West Vancouver Real Estate | Blueridge NV, North Vancouver Real Estate | Boulevard, North Vancouver Real Estate | Braemar, North Vancouver Real Estate | British Properties, West Vancouver Real Estate | Calverhall, North Vancouver Real Estate | Canterbury WV, West Vancouver Real Estate | Canyon Heights NV, North Vancouver Real Estate | Capilano NV, North Vancouver Real Estate | Cedardale, West Vancouver Real Estate | Central Lonsdale, North Vancouver Real Estate | Central Pt Coquitlam, Port Coquitlam Real Estate | Chartwell, West Vancouver Real Estate | Citadel PQ, Port Coquitlam Real Estate | Coquitlam West, Coquitlam | Coquitlam West, Coquitlam Real Estate | Cypress Park Estates, West Vancouver Real Estate | Deep Cove, North Vancouver Real Estate | Delbrook, North Vancouver Real Estate | Dollarton, North Vancouver Real Estate | Downtown VW, Vancouver West Real Estate | Dunbar, Vancouver West Real Estate | Eagle Ridge CQ, Coquitlam Real Estate | East Burnaby, Burnaby East Real Estate | Edgemont, North Vancouver Real Estate | Fairview VW, Vancouver West Real Estate | False Creek, Vancouver West Real Estate | Forest Glen BS, Burnaby South | Forest Glen BS, Burnaby South Real Estate | Forest Hills BN, Burnaby North Real Estate | Fraserview NW, New Westminster Real Estate | Gibsons Real Estate | Glenmore, West Vancouver Real Estate | Glenwood PQ, Port Coquitlam Real Estate | Grouse Woods, North Vancouver Real Estate | Hamilton RI, Richmond Real Estate | Hamilton, North Vancouver Real Estate | Harbour Place, Coquitlam Real Estate | Harbourside, North Vancouver Real Estate | Hastings, Vancouver East | Hastings, Vancouver East Real Estate | Horseshoe Bay WV, West Vancouver Real Estate | Indian River, North Vancouver Real Estate | Kerrisdale, Vancouver West Real Estate | Kitsilano, Vancouver West Real Estate | Langley City, Langley Real Estate | Lower Lonsdale, North Vancouver Real Estate | Lynn Valley, North Vancouver | Lynn Valley, North Vancouver Real Estate | Lynnmour, North Vancouver Real Estate | Maillardville, Coquitlam Real Estate | Marpole, Vancouver West | Marpole, Vancouver West Real Estate | Mosquito Creek, North Vancouver Real Estate | Norgate, North Vancouver Real Estate | North Vancouver Real Estate | Northlands, North Vancouver Real Estate | Northwest Maple Ridge, Maple Ridge Real Estate | Pemberton Heights, North Vancouver Real Estate | Pemberton NV, North Vancouver Real Estate | Point Grey, Vancouver West Real Estate | Port Moody Centre, Port Moody Real Estate | Princess Park, North Vancouver Real Estate | Queensbury, North Vancouver Real Estate | Quilchena, Vancouver West Real Estate | Ranch Park, Coquitlam Real Estate | Roche Point, North Vancouver Real Estate | S.W. Marine, Vancouver West Real Estate | Saunders, Richmond Real Estate | Seymour, North Vancouver Real Estate | Shaughnessy, Vancouver West Real Estate | Simon Fraser Univer., Burnaby North Real Estate | Sunnyside Park Surrey, South Surrey White Rock Real Estate | Upper Delbrook, North Vancouver Real Estate | Upper Lonsdale, North Vancouver Real Estate | Vancouver Real Estate | West Vancouver Real Estate | Westlynn, North Vancouver Real Estate | Windsor Park NV, North Vancouver Real Estate | Woodland Acres PQ, Port Coquitlam Real Estate | Yaletown, Vancouver West Real Estate
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.